Bitcoin

[black booty lover]

Daisy, you are anything but ignorant and uneducated that's 100% for sure!!!
Creating an artificial currency with a finite supply is not the same as M1 or M2 (money supply)
Anyone who studies economics understand that there is a universal need to expand the pie - by limiting supply you are artificially creating inflation for a scarce resource.
As you correctly pointed out holding onto a scarce resource will not expand the economy and will not result in economic investment or liquidity.
There is also the issue of barriers to entry - why is one product worth more than another - think of pot stocks - are they commodities - can they differentiate their offering?
In this case, the resource has no real tangible value other than what people perceive it to hold - revenue, earnings, assets, regulatory it is a total shit show - I would rather own gold than bitcoin, it has always be used for industrial or cosmetic uses, it is portable and can be traded anywhere on the planet. Gold also has a finite supply but unlike bitcoin it is tangible and has a use - the one value of bitcoin as you said is the blockchain technology - similar to BlackBerry - the licensed technology is more value than producing Crackberry phones. Telsa is another example of a disrupter - you are buying intellectual technology and a vision for the future, not today's earnings.
As far as my own $ I have less than 30 securities total and diversify among many sectors globally. When you buy a business you are buying the management, the opportunities for growth, recurring revenues, regulatory oversight, and you are diversifying your holdings across geographies. Many Bitcoin "investors" are too concentrated and exposed.

For the love of God I wish we could make this a sticky in the "investment" section of the forum.

 

[black booty lover]

For anyone else reading this who's still trying to understand bitcoin if they should invest, the best way I can explain is this:

You can't buy a house with bitcoin, the company you work for doesn't pay you in bitcoin, and think of the limited places that will take bitcoin as a form of payment. (most illegal). The reason 99% of business won't take bitcoin as a form of payment is because it's not a regulated government currency. So what the fuck is "bitcoin"? It's a virtual dollar that people are banking the fact it will become a real currency in some kind underworld or some kind of apocalypse world where half of us are living in places not run by government. Not going to happen. Soooo, where does that bring us? I have 10 bitcoins I would like to sell you. (I don't and will never own one but for the purpose of this exercise lets say I do) I'll actually sell them to you for a decent price at 11 bucks for all 10 of my bitcoins. Now you have my 10 bitcoins, other then then finding someone else to pay 12 bucks for them, what you going to do these 10 virtual dollars??? Either they sit there forever and you never get the 11 bucks you you paid for them back, someone else buys them off you because they don't understand them and think have actual value, or you find a legal entity that accepts them as form payment and buy what you can with them. (good luck with that).

 

[BillyZane]

For anyone else reading this who's still trying to understand bitcoin if they should invest, the best way I can explain is this:

You can't buy a house with bitcoin, the company you work for doesn't pay you in bitcoin, and think of the limited places that will take bitcoin as a form of payment. (most illegal). The reason 99% of business won't take bitcoin as a form of payment is because it's not a regulated government currency. So what the fuck is "bitcoin"? It's a virtual dollar that people are banking the fact it will become a real currency in some kind underworld or some kind of apocalypse world where half of us are living in places not run by government. Not going to happen. Soooo, where does that bring us? I have 10 bitcoins I would like to sell you. (I don't and will never own one but for the purpose of this exercise lets say I do) I'll actually sell them to you for a decent price at 11 bucks for all 10 of my bitcoins. Now you have my 10 bitcoins, other then then finding someone else to pay 12 bucks for them, what you going to do these 10 virtual dollars??? Either they sit there forever and you never get the 11 bucks you you paid for them back, someone else buys them off you because they don't understand them and think have actual value, or you find a legal entity that accepts them as form payment and buy what you can with them. (good luck with that).

PayPal CEO: Excited For Crypto In 2021! Plans To Make Accepting Crypto Easy For 28+ Million Vendors & Businesses

PayPal CEO: Excited For Crypto In 2021! Plans To Make Accepting Crypto Easy For 28+ Million Vendors & Businesses...

Crypto's home for live, breaking real time cryptocurrency news. Covering Bitcoin, Ethereum, ICO's and Blockchain Technology along with current prices.

www.globalcryptopress.com

 

[black booty lover]

PayPal CEO: Excited For Crypto In 2021! Plans To Make Accepting Crypto Easy For 28+ Million Vendors & Businesses

PayPal CEO: Excited For Crypto In 2021! Plans To Make Accepting Crypto Easy For 28+ Million Vendors & Businesses...

Crypto's home for live, breaking real time cryptocurrency news. Covering Bitcoin, Ethereum, ICO's and Blockchain Technology along with current prices.

www.globalcryptopress.com

"


"Dan Schulman, CEO of PayPal, shares his vision for digital currencies in 2021, including his plan to allow businesses that may fear Bitcoin's volatility to accept BTC and they will instantly and automatically convert to the promised amount in USD"

Still needs to be converted back to USD. So if you have bitcoin that's now worth pennies on the dollar, great. They will convert your 1000 million bitcoins into 10 USD when it crashes.

Paypal is not a bank. Paypal is a platform to transmit money.

BTW, I have some land in Florida if your interesting in buying it.

 

[BillyZane]

"


"Dan Schulman, CEO of PayPal, shares his vision for digital currencies in 2021, including his plan to allow businesses that may fear Bitcoin's volatility to accept BTC and they will instantly and automatically convert to the promised amount in USD"

Still needs to be converted back to USD. So if you have bitcoin that's now worth pennies on the dollar, great. They will convert your 1000 million bitcoins into 10 USD when it crashes.

Paypal is not a bank. Paypal is a platform to transmit money.

BTW, I have some land in Florida if your interesting in buying it.

You keep moving the goalposts. You say bitcoin has no value, I show you how it has value to millions of Venezuelans. Then you say it’s a pyramid scheme, I provide a link showing that while there may be a couple similarities on the surface, bitcoin is, by definition, not a pyramid scheme. Then you say that no businesses will accept bitcoin, I provide a link showing millions of businesses will soon be accepting bitcoin through PayPal. Then you move the goalposts even further by saying PayPal isn’t a bank. Nobody claimed it was a bank. You’re using a logical fallacy to attack points that weren’t even made.

 

[black booty lover]

You keep moving the goalposts. You say bitcoin has no value, I show you how it has value to millions of Venezuelans. Then you say it’s a pyramid scheme, I provide a link showing that while there may be a couple similarities on the surface, bitcoin is, by definition, not a pyramid scheme. Then you say that no businesses will accept bitcoin, I provide a link showing millions of businesses will soon be accepting bitcoin through PayPal. Then you move the goalposts even further by saying PayPal isn’t a bank. Nobody claimed it was a bank. You’re using a logical fallacy to attack points that weren’t even made.

millions of venaezuelans...lol.
Your banking on the fact that a third world counrty like Venezuela is going to keep a non regulated currency alive...lol.

I feel sorry for all those venaezuelans that think when they go to the bank with their bitcoin the bank will accept their crypto, the bank is going to laugh at them.

The u.s doesn't have different currencies. They have one...the american dollar.

im not moving goal post at all. At the end of the day,The money needs to be converted to m1 money.

You can always tell the people banking on Bitcoin, because like all pyramid scams, they keep having the pressure of finding someone else to buy their worthless Bitcoin.

Why do you think so many other crypto currencies have emerged??? Because other people realized it's a great scam.

I currently have a group called "terbites helping other terbites" if your interested.

Anyone that wants to get real advice, talk to WetSeeker.

 

[BillyZane]

Again you show your misunderstanding on the subject. I’m not banking on Venezuela to keep bitcoin alive, I’m banking on one of the worlds most powerful computing networks and the increasing adoption of bitcoin to keep bitcoin alive.

I feel sorry for all those Venezuelans who worked their entire lives only to have their fiat money be worth dog shit because of the astronomical inflation.

Sure, at the end of the day for many purposes bitcoin may need to be sold for fiat but that’s short term thinking. Bitcoin is still in its infancy, of course there will be hurdles. What about 5 years from now? What about 10, 20?

Also, nobody’s pressuring people to to purchase their bitcoins for more than what they paid. The price keeps rising because demand way outstrips available supply. That’s not a pyramid scheme, that’s simple economics. What pyramid scheme do you know that has people thinking “Man, I really want those essential oils and leggings so bad that I’ll pay more than the last guy!” What pyramid scheme do you know where you can buy your product from licensed, regulated exchanges instead of at a sex toy party at your cousin’s coworker’s neighbour’s house?

And there are so many other crypto currencies simply because that’s how technology evolves. Someone invents something, and then other people iterate on it. Of course some of those might be scams, but that’s part of life. There are scams in every sector of society.

 

[Valcazar]

It’s painfully clear you do not understand bitcoin if you claim there’s no value in it. For one, it’s a deflationary currency rather than an inflationary one. There will only ever be 21 million bitcoin, yet this year alone the US printed 1/5 of all dollars in existence. Every year our dollars are worth less and less because of inflation. But with deflation, every year a bitcoin will be worth more and more because supply is limited but demand rises.

And you are under the impression that is a good thing?
Huh.

In terms of traits of money, just look at how bitcoin compares against fiat and gold.
View attachment 29921

Exactly. Bitcoin is bad at being money.

 

[Valcazar]

So you posted in November, look at all the gains you missed out on. You know how many hour sessions with SPs I booked because “hey, I made another 5 grand off bitcoin today “

Bitcoin was announced the best performing asset of 2010-2020

I reckon it will also be the best performing asset of 2020-2030 too. 2021 is going to be a crazy year, BTC, ethereum, Decentralized-finance (DeFi) all going to explode!

Buy in, strap in, and enjoy the ride my friend

Yes, Bitcoin has been an excellent asset and may remain some for quite a while. It just isn't money and it isn't going to revolutionize banking and destroy fiat currency.
It's like having a really cool coin collection or comic book collection. As long as people want it, it will go up. If people get bored with it, it will go down.

 

[Valcazar]

I'm willing to put my money where my mouth is. If you're still doubtful of bitcoin I will give you $10 worth of BTC. Hopefully once you have some skin in the game you'll be more motivated to learn about it, and if bitcoin were to crash and burn tomorrow then, oh well, it didn't cost you anything, right?

I will transfer through Shakepay, since they offer no-fee transfers and the verification process is much quicker than Newton (1 hour vs over a week in my case).

You'll need to sign up through this referral link and then complete the verification process: https://shakepay.me/r/3LZNLLG This is so I can track a legit new sign-up vs. people who already have accounts and to prevent people claiming the reward multiple times through different unverified accounts.

Once you've been verified, send me a private message with your Shaketag. I will verify the new sign-up on my end and send you $10 worth of BTC.

If there are no fees on that thing, I'll take free money.

 

[Valcazar]

Good Luck with that.

That's the part that cracks me up. People want to hold an electronic asset, that's fine. People hold all kinds of things as assets. It's all the weird nonsense about destroying central banks and fiat currency that always makes me shake my head.

If I can see any real value in bitcoin, it’s the blockchain technology, which essentially is just some data structure designed by a Japanese dude.

And while the blockchain is interesting tech, people have been struggling to find really good uses for it.

So here comes the question: what makes bitcoin more valuable when there are hundreds other crypto there having the same technology? Just because it’s the first one created so it deserves all the hype ?

Mostly. It's around longer, has the most proof of stability by having been around that long and most important has the most people who are into it and proselytizing.

Besides, with a limited supply, bitcoin is deflationary.

Yes. The guy who made it was probably a goldbug. These people think that being deflationary is a good thing. Over the years, watching people into crypto have to re-learn the lessons from 100 years ago has been perversely amusing.

 

[Fun For All]

Yes, Bitcoin has been an excellent asset and may remain some for quite a while. It just isn't money and it isn't going to revolutionize banking and destroy fiat currency.
It's like having a really cool coin collection or comic book collection. As long as people want it, it will go up. If people get bored with it, it will go down.

I have a Wayne Gretzky rookie card, is that cool?

 

[Valcazar]

I have a Wayne Gretzky rookie card, is that cool?

I'm sure it is worth a lot.

 

[black booty lover]

Yes, Bitcoin has been an excellent asset and may remain some for quite a while. It just isn't money and it isn't going to revolutionize banking and destroy fiat currency.
It's like having a really cool coin collection or comic book collection. As long as people want it, it will go up. If people get bored with it, it will go down.

I was going to use this exact same example...lol.

 

[BillyZane]

And you are under the impression that is a good thing?

For anyone that has it, yes. Why would it not be? Are you saying you want your dollars to have less purchasing power year after year rather than more?

If bitcoin were the only type of currency that would be a problem but I’m not one of those types that believe it will overthrow the entire monetary system. Bitcoin and fiat will exist alongside each other so obviously the relative value of a deflationary currency vs an inflationary currency will increase over time.

 

[BillyZane]

If there are no fees on that thing, I'll take free money.

It’s free to create an account and to receive and withdraw bitcoin. I don’t have any btc on the exchange at the moment because I regularly transfer it to my cold storage wallet but if you follow the steps I’ll hit you up when I have more.

 

[Valcazar]

For anyone that has it, yes. Why would it not be? Are you saying you want your dollars to have less purchasing power year after year rather than more?

If bitcoin were the only type of currency that would be a problem but I’m not one of those types that believe it will overthrow the entire monetary system. Bitcoin and fiat will exist alongside each other so obviously the relative value of a deflationary currency vs an inflationary currency will increase over time.

If you aren't deluding yourself into thinking that it will overthrow the monetary system then fine.

 

[BillyZane]

If anybody is having trouble wrapping their head around bitcoin I just came across a video that is very informative and easy to digest

 

[Caspertheghost]

Gold and silver.

When the BTC merry go round collapses, watch the money run to precious metals.

 

[black booty lover]

Gold and silver.

When the BTC merry go round collapses, watch the money run to precious metals.

yup, and it's going to happen probably sooner then later.